Author: Desmond Brooks
Desmond Brooks
Desmond Brooks is a skilled financial strategist with a keen eye for market analysis and trading opportunities. With a solid foundation in finance and a passion for economic trends, Desmond provides clear, actionable insights that help traders navigate the complexities of the market. He has contributed to several financial platforms, where his expertise in strategic planning and risk management has made him a trusted voice in the trading community.
The Cyprus Securities and Exchange Commission (CySEC) has finalized a €50,000 settlement with CIF Charlgate Ltd, the operator of Fxview, over potential breaches of the Investment Services and Activities and Regulated Markets Law of 2017. The settlement marks the conclusion of a comprehensive investigation spanning from 2020 to 2023, including specific compliance reviews in July and September 2023. Compliance Under Scrutiny Charlgate acquired the domain fxview.com in 2020, adding it to its portfolio to provide retail trading services. At the time, the company noted that fxview.com had been active for three decades, emphasizing the domain’s established presence in the trading…
Devexperts, a global provider of trading and financial software solutions, has announced its plans to open a new office in Dubai by mid-2025. This expansion is fueled by the growing demand for trading technology in the Middle East and North Africa (MENA) region, particularly in the UAE and Saudi Arabia, which have witnessed significant growth in their trading markets. Responding to Regional Growth Since its establishment in 2002, Devexperts has become a prominent name in software solutions for capital markets. Its product portfolio includes platforms like DXtrade and DXmatch, catering to brokerages, banks, and exchanges globally. “The MENA region is…
The prop trading world is evolving fast. Traders demand better tools, and firms need platforms that deliver. That’s why YourPropFirm now offers Match-Trader—a platform built to handle modern trading needs with precision. This integration empowers prop firms to elevate their services, foster stronger trader relationships, and operate with enhanced efficiency and adaptability. What is Match-Trader? Match-Trader, developed by Match-Trade Technologies, is a state-of-the-art trading platform that caters to the ever-changing demands of proprietary trading firms. Renowned for its intuitive design and robust functionality, Match-Trader offers firms the tools to grow while ensuring traders enjoy a smooth and responsive trading experience.…
The Cyprus Securities and Exchange Commission (CySEC) has introduced a new website aimed at enhancing the experience of regulated firms, investors, and the general public. The platform is designed to improve accessibility, transparency, and usability, offering a streamlined interface adaptable to smart devices. Advanced Search Features A standout feature of the revamped website is its upgraded search tool, which allows users to efficiently find information on both current and former regulated firms. The platform serves as a centralized hub for stakeholders, providing access to key registries and portal systems that facilitate direct information submissions to CySEC. This enhancement aims to…
CFI Financial Group has officially entered into a partnership with MI Cape Town cricket team, becoming its Official Online Trading Partner. The agreement, announced on Wednesday, marks a significant step for CFI as it expands its footprint in South Africa. The partnership includes prominent jersey branding with CFI’s logo placed on the right chest position, stadium advertising, and exclusive fan engagement activities, such as player meet-and-greet events. While the financial details of the deal were not disclosed, it represents a strategic move to leverage cricket’s global audience, which comprises approximately 2.5 billion fans. Strengthening Presence in South Africa This collaboration…
Proprietary trading firm Axe Trader has announced the suspension of all trading activities due to a medical emergency involving its CEO and founder, Rick Knight, widely known in the trading community as “Uncle Rick.” The CEO reportedly suffered a severe cardiac event, necessitating multiple surgeries and an indefinite pause in operations. Operations on Hold Indefinitely The firm has frozen all trading accounts, assuring clients that account progress will be preserved during the hiatus. In a message shared on its Discord channel, Axe Trader stated, “All accounts will be paused exactly where they are. No progress will be lost, and we…
FlowBank Ltd. has made significant strides in its liquidation process, with CHF 49.7 million reimbursed to creditors and clients as of November 30, 2024. This amount represents 91.3% of secured deposits. Despite the progress, 2,609 customers still need to claim their deposits, and the bank’s liquidation team continues efforts to contact and assist them. Asset Transfers and Securities Sales The transfer and sale of securities are also progressing steadily. Out of 39,640 securities lines, 27,981 have been successfully transferred or sold. FlowBank has provided clients with a platform to sell their securities directly, with proceeds available for transfer in EUR…
4T Markets UK, formerly known as Formax Prime Capital (UK), reported a substantial rise in revenue for the fiscal year ending March 31, 2024. The company’s revenue soared to £469,322, marking a significant increase from the previous year’s £235,821. Revenue Driven by White-Label Services 4T Markets’ UK division has pivoted its focus toward technology, with its entire FY24 revenue stemming from white-label fees rather than traditional sources like spread or swap charges. This highlights the firm’s growing role as a technology provider to other players in the retail trading industry. Interestingly, the division’s revenue was entirely generated outside the UK, as detailed in its…
Global fintech company Deriv has announced the opening of its second office in Cyprus, establishing a new innovation hub in Nicosia. The move aims to bolster the company’s European presence while focusing on cutting-edge technology, including artificial intelligence (AI) and advanced trading solutions. With a track record spanning 25 years and operations in 20 global locations, Deriv has chosen Nicosia as a strategic base to enhance its technological capabilities. The new office, located on the 12th floor of the Asteroid building in the capital, is set to open in mid-December. A Strategic Hub for Growth and Innovation “Cyprus has become a key…
Tools for Brokers (TFB) has announced a strategic partnership with UK-based Global Markets Group Limited (GMG) to integrate its advanced Trade Processor bridging system into GMG’s trading operations. This collaboration aims to enhance GMG’s trading infrastructure with improved liquidity access, risk management capabilities, and cutting-edge technology solutions. GMG Markets Adopts TFB’s Trade Processor The partnership focuses on deploying TFB’s Trade Processor, a multi-platform liquidity bridge solution, to strengthen GMG’s trading systems. This technology offers advanced order aggregation, seamless integration via FIX API, and built-in reporting and risk management tools. GMG traders will also benefit from access to expanded liquidity pools…